VINCI Construction, Ferrovial win €4.4bn contract for Ontario Line from Metrolinx
VINCI Construction Grands Projets and Ferrovial have bagged a civil contract worth CAD 6 billion (€4.4 billion) from Metrolinx for the design-build-finance of a major portion of the new Ontario Line in Canada.
Metrolinx is the transit authority for the Greater Toronto region.
The project will be part of the 15.6km Ontario Line subway that will be laid in the future between the Ontario Science Centre and the Exhibition/Ontario Place in Toronto. It will need 89 months of work for its execution, with a completion date expected in 2030.
VINCI Construction Grands Projets and Ferrovial through a 50:50 joint venture will be responsible for the financing, design, and construction of the civil engineering for a 2 x 6km twin-tube tunnel. This also includes seven new stations on a general contracting basis.
The contract excludes rail equipment, said VINCI Construction Grands Projets, which is a French construction engineering company. Ferrovial is a Spanish operator of sustainable infrastructure.
According to VINCI Construction Grands Projets, the financing of the project, partly mobilized by the contractor, is made up of a bank facility mobilizing a global pool of eleven banks, of which three are Canadian.
VINCI Construction Grands Projets said that the Ontario Line is expected to bring down congestion, reduce travel times, and bring in sustainable development in Toronto.